New York, March 14, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Fertilizer Additives Market Size, Share, Trends and Growth Forecast to 2028 - Global Analysis by Form (Granular, Prilled, and Powder) and Type (Dust-Control Agent, Anti-Caking Agent, Granulation Aids, Coloring Agent, Corrosion Inhibitors, and Others)”, the global fertilizer additives market growth is driven by increasing use of fertilizers in agricultural practices, expanding farming sector in Asia Pacific and growing need for food security.
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Global Fertilizer Additives Market – Report Scope:
| Market Size Value in | USD 3.51 Billion in 2022 |
| Market Size Value by | USD 4.05 Billion by 2028 |
| Growth rate | CAGR of 2.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 155 |
| No. of Tables | 87 |
| No. of Charts & Figures | 84 |
| Historical data available | Yes |
| Segments covered | Form, and Type |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Fertilizer Additives Market: Competitive Landscape and Key Developments
A few leading players operating in the fertilizer additives market are Arkema Group; Solvay; KAO CORPORATION; Chemipol S.A.; Chemsol LLC; Clariant; Dorf Ketal; Michelman, Inc.; Omex Agriculture, Inc.; and Novochem Group. These players are focused on developing innovative products to meet the changing requirements of consumers.
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Robust Growth of Fertilizer Industry Drives Global Fertilizer Additives Market:
The growth of the fertilizer industry contributes significantly to the economy of any country owing to the rising demand for fertilizers, increasing agricultural production, and increasing need for food security worldwide. According to the World Fertilizer Outlook, 2020, nitrogen consumption, phosphate consumption, and potassium consumption has recorded as 1,18,763 thousand tonnes, 45,858 thousand tonnes, and 37,042 thousand tonnes respectively, compared to that in 2019. The demand for urea is estimated by World Fertilizer Outlook to grow at a higher rate as most new Nitrogen-capacity additions are in the form of urea. As these fertilizer additivess helps to stimulate the productivity of fertilizers, the demand for fertilizer additivess is increasing in the fertilizer industry across the globe. Moreover, growing agricultural production, increases the demand for the fertilizers at the globe. Hence, the booming fertilizers industry drives the fertilizer additives market.
A fertilizer is an essential industry increases the overall productivity and global food production. According to the International Fertilizer Association (IFA), cereals and grains production is the most noticed agricultural activity, with global output estimated by The US Department of Agriculture (USDA) at 850 million metric ton for the 2022 harvest. Grain producers allow intensive agriculture and a surge in the use of mineral fertilizers to achieve a large-scale production. Grains are the biggest end market for fertilizers, followed by cash crops such as vegetables, fruit, flowers, and vines. Therefore, the demand for fertilizer additives is directly influenced by the growing need for a large-scale production.
North America is projected to register the highest CAGR in the fertilizer additives market during the forecast period. The growth of the fertilizer additives market in this region is primarily attributed to the development of the agricultural sector, coupled with the significant demand for fertilizers in the past few years. In addition, the inclusion of additives for the enhancement of the fertilizer quality and efficiency offers opportunities for the growth of the market.
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Fertilizer Additives Market: Segmental Overview
Based on form, the fertilizer additives market is segmented into granular, prilled, and powder. The prilled segment accounted for the largest share of the market in 2021. Prilling is a method of producing uniform spherical particles from molten solids, robust solutions, or slurries. Prills are formed by allowing drops of the melted prill substance to congeal or freeze in mid-air after being dripped from the top of a tall prilling tower. Low-density prills are more porous than high-density prills and are preferred for industrial use, while high-density prills are utilized as fertilizer. A few agrochemicals such as urea are often manufactured in prilled form. Ammonium nitrate fertilizers, urea, and NPK fertilizer are generally available in prills form. Prilled urea is widely preferred because it is more resistant to breaking down when being blended with other components of the fertilizer.
Based on type, the fertilizer additives market is segmented into dust-control agent, anti-caking agent, granulation aids, coloring agent, corrosion inhibitors, and others. The anti-caking agent segment accounted for the largest share of the market in 2021. An anti-caking agent is a type of additive used in most types of powder and granulated food products or materials. The most general anti-caking agents for fertilizers contain oils and fats to prevent the interaction of fertilizer particles with that of the environment. Anti-caking agents prevent the development of lumps in granulated or powdered content, making it easy for transportation, consumption, packaging, and storage.
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